MAM
EA, Steven Spielberg team up to develop 3 original videogames
MUMBAI: Electronic Arts Inc has inked a long term agreement with Academy Award winner Steven Spielberg, who will be collaborating with the game makers at EA’s Los Angeles studio (EALA) to create three new original franchise properties.
Beginning this year, with offices located on site at EALA, Spielberg will work directly with EA’s development teams to offer his signature style of storytelling to the concept, design, story and artistic visualisation of the new games. EA will own the intellectual properties and the game franchises will be developed, published and distributed worldwide by EA. Financial terms of the agreement were not disclosed.
“I have been playing EA games for years and have watched them master the interactive format. Having watched the game industry grow from a niche into a major creative force in entertainment, I have a great deal of respect for EA’s understanding of the interactive format. I’m looking forward to working closely with the team in Los Angeles,” said Spielberg.
“There is no greater storyteller than Steven Spielberg. In addition to his gift for pleasing movie audiences, he has an innate understanding of games and how to immerse players into a fantastic world of action and characters,” said EA chairman and CEO Larry Probst.
“It’s incredibly exciting to be collaborating with Steven Spielberg. He shares our vision for the potential of the medium and has the passion and creativity to help us finally deliver on the promise that a game can not only engage and compel you with its interactivity, but can also move you emotionally,” said EALA vice president and studio head Neil Young.
The mission at EALA is to be the definitive creative destination for game makers and game development in Southern California. It is home to the award-winning Medal of Honor, Command and Conquer and The Lord of the Rings franchises. EALA drives innovation in technology, art and game design by employing a first-class studio of game-makers at its campus in Playa Vista, CA. The studio is also home to EA’s Worldwide Music and Music Marketing group and EA Mobile.
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
